Transfer of capital assets from Air India Limited to Air India Assets Holding Limited

The CBDT has issued certain notifications to provide for Transaction which should be regarded as transfer with respect to transfer of capital assets from Air India Limited to Air India Assets Holding Limited and to notify exemption from TDS and TCS on certain transactions by way of following Income tax notifications under the Income Tax Act, 1961:

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Notification No. Section Particulars Applicability
S.O. 3678(E) Dtd. 10th September, 2021 47(viiaf) The CG has notified transfer of capital asset under plan approved by Central Government from Air India Limited (PAN: AACCN6194P), being transferor public sector company, to Air India Assets Holding Limited (PAN: AAQCA4703M), being transferee public sector company. 01st April, 2022
S.O. 3679(E) Dtd. 10th September, 2021 194-IA No deduction of tax shall be made on any payment made to the Air India Limited or transfer of immovable property to Air India Assets Holding Limited under a plan approved by the Central Government. 01st April, 2021

(deemed)

S.O. 3680(E) Dtd. 10th September, 2021 194Q(1) Air India Assets Holding Limited shall not be considered as ‘buyer’ in case of transfer of goods by Air India Limited to it under a plan approved by the Central Government. 01st July, 2021 (deemed)
S.O. 3681(E) Dtd. 10th September, 2021 206C(1H) Air India Limited shall not be considered as ‘seller’ in relation to transfer of goods by it to Air India Assets Holding Limited under a plan approved by the Central Government. 01st April, 2021 (deemed)

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